learned/learning/to learn RSS 2.0
# Monday, 21 December 2009
I have seen people always getting confused with the loan calculation method, especially auto loan (including me, when I bought my first car), just to help you all ... I have created this calculator. Try this and find out how it differs from the other calculators on the internet. 

What my calculator is capable of?
1. Calculates monthly payment or apr or term or loan amount based on your input. (any calculator online does this ... not a big deal)
2. Gives you the total amount that a person will pay if he takes a loan i.e., principal (loan amount) + total interest amount. 
3. Gives you the amortization table i.e., monthly splits. The amount that goes towards your principal and interest from your monthly payment.
4. Allows you to edit your monthly payment and gives you the amount that you will gain with the change. Many pay their monthly payments exactly, without knowing that even few dollars (or rupees or whatever) increase will change their total interest.
5. Tells you whether refinance will be profitable or not, by changing interest rate or loan term. Gives you the amount that you will save/lose by refinancing. 

Formula used for this calculator:
Monthly Payment = (P * R) / (1 - (1 + R)^(-n)) where

P = Loan amount
n = loan term i.e., number of months 
R = Annual Percentage Rate/ (12 * 100)  
12:number of months/year 
100: As rates are in percentage

Feel free to send your comments.

Monday, 21 December 2009 13:02:42 (GMT Standard Time, UTC+00:00)  #    Comments [0] -
Miscellaneous
Comments are closed.
Navigation
Archive
<2017 August>
SunMonTueWedThuFriSat
303112345
6789101112
13141516171819
20212223242526
272829303112
3456789
About the author/Disclaimer

Disclaimer
The opinions expressed herein are my own personal opinions and do not represent my employer's view in any way.

© Copyright 2017
Gokulnath
Sign In
Statistics
Total Posts: 41
This Year: 0
This Month: 0
This Week: 0
Comments: 47
Themes
Pick a theme:
All Content © 2017, Gokulnath
DasBlog theme 'Business' created by Christoph De Baene (delarou)
The new movement has made a number of changes. First, precise instantaneous jump calendar display tag heuer replica large switching time is scheduled for midnight. The power required for this process will slowly build up within hours. Furthermore, LANGE 1 escapement now available eccentric balance weight balance wheel and homemade free omega uk watch sprung. Means provided in the hand-carved balance wheel splint omega replica underneath, 21,600 vibrations per hour. This table also hublot replica retains the reliable double-barrel, power reserve of 72 hours.